Yes over the long term the SP reflects perception of the future....

Yes over the long term the SP reflects perception of the future. You were talking short term with HC comments. The SP really got a whack from the decision to buy 1.3billion or whatever spectrum to compete with OPtus and Telstra. Very long term will be a good decision provided TPM survives as debt is always a problem. I see debt being 77.6% debt/ equity ratio, Telstra has 118.9%. So it is a debt heavy sector mainly because of Telstra's dividends.

Telcos are utilities so no bank will refuse to lend to them, therefore this is a waiting game for years unfortunately. Hard to see TPM not being $10 by 2025 or so but who wants to wait that long with risks.

I have to wait as I see no rush in selling at a 35% loss minus dividends.

I upgraded to buy as it appears to be a washout today. Report should be steady i'm sure the shorters will create stories in the media as they illegally do.